Emerald Advisers LLC Reduces Stock Holdings in AtriCure, Inc. (NASDAQ:ATRC)

Emerald Advisers LLC reduced its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 22.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 351,415 shares of the medical device company’s stock after selling 99,843 shares during the quarter. Emerald Advisers LLC owned approximately 0.74% of AtriCure worth $8,002,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Comerica Bank boosted its position in shares of AtriCure by 70.5% during the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares in the last quarter. Quest Partners LLC bought a new stake in shares of AtriCure during the 4th quarter valued at $103,000. Virtu Financial LLC purchased a new stake in shares of AtriCure in the 4th quarter worth about $213,000. Victory Capital Management Inc. increased its stake in shares of AtriCure by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock worth $221,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new position in AtriCure during the 1st quarter valued at about $224,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

AtriCure Price Performance

Shares of NASDAQ:ATRC opened at $26.24 on Friday. The business has a 50-day simple moving average of $23.54 and a two-hundred day simple moving average of $25.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.93 and a current ratio of 4.13. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -32.80 and a beta of 1.43. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $44.92.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.17). AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The company had revenue of $116.27 million for the quarter, compared to the consensus estimate of $116.24 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, analysts expect that AtriCure, Inc. will post -0.77 earnings per share for the current year.

Insider Buying and Selling

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $24.07, for a total value of $84,245.00. Following the transaction, the director now owns 8,970 shares of the company’s stock, valued at $215,907.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ATRC has been the subject of several recent research reports. StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC dropped their target price on AtriCure from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. cut their target price on AtriCure from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler lowered their price target on AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus cut their price objective on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.44.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.